Finance

Scotiabank Seeks to Increase Stake in KeyCorp Amid Buybacks

KeyCorp signage on the floor of the New York Stock Exchange on April 8, 2025.Photographer: Michael Nagle/Bloomberg

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By Yizhu Wang

March 20, 2026 at 4:58 PM UTC

Updated on

March 20, 2026 at 6:58 PM UTC

Bank of Nova Scotia is looking to increase its stake in Cleveland-based KeyCorp to as much as 19.99%, up from prior permission for a 14.99% interest.

Scotiabank plans to acquire additional voting shares of KeyCorp, and thereby indirectly acquire voting shares of the company’s bank unit, KeyBank National Association, according to a regulatory filing.